Insider Selling: Alignment Healthcare, Inc. (NASDAQ:ALHC) Insider Sells $267,730.00 in Stock

Alignment Healthcare, Inc. (NASDAQ:ALHC) insider Hakan Kardes sold 20,500 shares of Alignment Healthcare stock in a transaction on Monday, November 4th. The stock was sold at an average price of $13.06, for a total value of $267,730.00. Following the completion of the sale, the insider now directly owns 355,444 shares of the company’s stock, valued at $4,642,098.64. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Hakan Kardes also recently made the following trade(s):

• On Friday, November 1st, Hakan Kardes sold 4,500 shares of Alignment Healthcare stock. The shares were sold at an average price of $12.98, for a total value of $58,410.00.
• On Thursday, September 12th, Hakan Kardes sold 25,000 shares of Alignment Healthcare stock. The shares were sold at an average price of $11.48, for a total value of $287,000.00.

Alignment Healthcare Stock Down 2.6 %

Shares of Alignment Healthcare stock opened at $13.78 on Friday. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.60 and a current ratio of 1.60. Alignment Healthcare, Inc. has a 52 week low of $4.46 and a 52 week high of $14.25. The stock’s 50-day simple moving average is $11.08 and its 200-day simple moving average is $9.00.

Alignment Healthcare (NASDAQ:ALHC) last posted its quarterly earnings results on Tuesday, October 29th. The company reported ($0.14) earnings per share for the quarter, hitting the consensus estimate of ($0.14). The business had revenue of $692.43 million during the quarter, compared to the consensus estimate of $662.11 million. Alignment Healthcare had a negative return on equity of 108.69% and a negative net margin of 5.84%. The firm’s revenue for the quarter was up 51.6% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.19) EPS. As a group, research analysts predict that Alignment Healthcare, Inc. will post -0.68 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. TD Cowen raised their price objective on shares of Alignment Healthcare from $8.00 to $10.00 and gave the stock a “buy” rating in a report on Tuesday, August 6th. Piper Sandler reissued an “overweight” rating and set a $10.00 price objective (up previously from $8.00) on shares of Alignment Healthcare in a research report on Tuesday, August 6th. KeyCorp initiated coverage on Alignment Healthcare in a research note on Friday, October 11th. They issued a “sector weight” rating for the company. Barclays lifted their target price on Alignment Healthcare from $7.00 to $8.00 and gave the company an “underweight” rating in a research report on Wednesday, October 30th. Finally, Robert W. Baird upped their price target on Alignment Healthcare from $10.00 to $11.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 14th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $10.33.

Hedge Funds Weigh In On Alignment Healthcare

Several institutional investors have recently bought and sold shares of the stock. Virtu Financial LLC purchased a new stake in Alignment Healthcare in the 1st quarter worth $57,000. Principal Financial Group Inc. purchased a new position in shares of Alignment Healthcare during the first quarter valued at about $57,000. nVerses Capital LLC bought a new stake in shares of Alignment Healthcare in the third quarter worth about $95,000. Creative Planning lifted its position in shares of Alignment Healthcare by 20.0% in the third quarter. Creative Planning now owns 12,442 shares of the company’s stock worth $147,000 after buying an additional 2,072 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its stake in Alignment Healthcare by 9.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 39,570 shares of the company’s stock valued at $196,000 after buying an additional 3,334 shares during the last quarter. 86.19% of the stock is owned by hedge funds and other institutional investors.

About Alignment Healthcare

Alignment Healthcare, Inc, a tech-enabled Medicare advantage company, operates consumer-centric health care platform for seniors in the United States. It provides customized health care designed to meet the needs of a diverse array of seniors through its Medicare advantage plans. The company was founded in 2013 and is based in Orange, California.